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ELSS Calculator


What is your current Taxable Income ?

How much can you invest in ELSS to save tax?

Tax to be paid if you
DO NOT invest in ELSS

₹ 13,78,000

Tax to be paid in

₹ 13,31,200

You Save

₹ 46,800

Know more about our ELSS offering



Surcharge on income above 50 lakhs is not considered for above computation.

Individuals having total income not exceeding Rs. 500,000 can avail rebate of lower of actual tax liability or Rs. 12,500.

In case of a resident individual of the age of 60 years or above but below 80 years, the basic exemption limit is Rs.300,000.

In case of a resident individual of age of 80 years or above, the basic exemption limit is Rs 500,000.

Health and Education cess @ 4% on aggregate of base tax and surcharge

The above computation is basis the old Personal tax regime.

Income tax benefits to the mutual fund and unit holders will be based on prevailing tax laws

The information mentioned above is for general information and understanding purposes only and should not be construed as legal/tax /investment advice in any manner. Investors should consult their own tax consultant / financial advisor to understand specific tax implications arising out of their investment in Equity Linked Savings Schemes (ELSS). ELSS or tax saving mutual fund schemes help investors ( Individuals / HUF) save tax under Section 80C of the Income Tax Act, 1961. Investments in ELSS are subject to a lock-in period of 3 years and qualify for a tax deduction of upto Rs 1.5 lakh.

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What is ELSS Mutual Fund

ELSS is a type of Mutual Fund which allows you to claim for income tax deduction. You can save up to ₹ 1.5 lakhs a year in taxes by investing in ELSS, which is covered under Section 80C of the Income Tax Act, 1961. However, you can choose to invest more than ₹ 1.5 lakhs, but the excess will not qualify you to avail the tax benefits as per the provisions of Section 80C.

Traditional tax-saving instruments typically offer fixed returns and does not consider the high inflation prevalent in an economy like ours. For example, assuming 6% rate of inflation, investments which have fixed returns promise a return of 8%, in this case your real return would be merely 2%.

On the other hand, ELSS mutual funds invest in equities and hence, has the ability to generate higher inflation-adjusted returns over a longer timeframe. If you stay invested in ELSS for Long-term, it helps set off the short-term volatility associated with equities. Since these funds are managed by professionals, you need not worry about timing the market.

What is ELSS Mutual Fund?

Benefits of ELSS

  • shortest


    ELSS has lock- in period of 3 years which is the shortest when compared with other tax saving instruments under Section 80C. Tax-saving FDs have a 5 year lock-in & PPF has a 15 year maturity. Hence, ELSS allows you greater flexibility in the medium term.

  • higher-returns

    Potentially higher returns

    Since ELSS mutual funds invests in equity markets, returns generated through them are significantly higher than other tax saving instruments.

  • tax

    Better post-tax returns

    Long term capital gains of up to Rs. 1 lakh a year from ELSS mutual funds are exempt from income tax and long-term capital gains above Rs. 1 lakh are taxed at 10%.

  • wealth

    Allows you to create wealth

    Corpus generated out of ELSS investment can also be used to fulfil your financial goals. You can sync your ELSS investments to attain goals across life stages such as building a retirement kitty, saving for their child’s education, buying a car or making a down payment for their house.

Benefits Of ELSS vis-A-vis The Regular Tax Saving Options.

InstrumentSafety/RiskLock-In(Years)ReturnsTax Free Gains
SCSS (Senior Citizens Saving Scheme)Low Risk57.4%^No
NSC (National Savings Certificate)Highest Safety56.8%^No
PPF(Public Provident Fund)Highest Safety157.1%^Yes
Bank FDLow Risk56.20*No
ELSS (Equity linked savings scheme)High Risk3Market LinkedNo
Life Insurance PremiumsModerate RiskMinimum 5VariableYes
NPS (National Pension System)Moderate RiskTill age 60VariablePartially
EPF (Employee Provident Fund)Low RiskTill age 608.50%Yes
Sukanya Samriddhi YojanaLow Risk157.6%^Yes

^ Rates Applicable For Jan-Mar 2021; * For Non Senior Citizens Get 5.40% From SBI

Source : Finance Ministry For Government-Linked Investment Returns



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Corporate Office Address :

SBI Funds Management Ltd

A Joint venture between SBI and AMUNDI

(CIN - U65990MH1992PTC065289), 9th Floor, Crescenzo, C-38 & 39, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai-400051

Board Line: +9122 61793000

Mutual Fund investments are subject to market risk, read all scheme related document carefully.